According to local sources, a Brazilian producer has closed slab export deals to a client in the US East coast at $912/mt and to a client in the West coast at $928/mt, both CFR conditions.
It is estimated that, in FOB terms, the price has increased by $10/mt in one week, considering stable freight rates and a sale closed last week at $918/mt to a client in the West coast under the same conditions.
Sources have also mentioned a sale to a client in Mexico at $880/mt, closed in FOB conditions, for shipment in June.
Domestic slab sales in Brazil are reportedly being closed at the equivalent to $880/mt, ex-works, no taxes included.
Expectations are maintained for export prices to the US reaching or even exceeding the level of $1,000/mt in FOB terms for the basic commercial grades, with a persisting scenario of supply shortage and increased demand in the global merchant slab market, with signs of volatility of prices in most world regions.